CORONA VIRUS UPDATES
CARES Act Individual Rebates
An update from Congressman Ken Calvert
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CARES Act Individual Rebates Dear Neighbor,
As we face the unprecedented challenges from the COVID-19 outbreak, our solutions must also be extraordinary. That is why I was proud to see the House and Senate pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law by President Trump on March 27, 2020. The CARES Act is the “Phase III” COVID-19 package designed to help Americans emerge from this crisis as strong as ever.
The CARES Act gives a tax rebate to Americans who need it most – direct payments designed to bolster families’ budgets during these trying times. Individuals with a valid Social Security Number will receive this cash assistance, including those who receive Social Security benefits. Those who are in the country illegally are not eligible. Additionally, seniors and individuals with disabilities who did not file taxes last year will receive funds through a simplified process to ensure they quickly receive these much-needed dollars.
So, how much will you receive? A full credit amount of $1,200 will be given to individuals earning an income at or below $75,000, or $112,500 for heads of households. Couples earning $150,000 and below will get $2,400 and an additional $500 will be given for each child. If you earn above these thresholds, your tax rebate amount will be reduced by $5 for each $100 your income exceeds the limit. This means that an individual (without children) will not receive a rebate if their income exceeds $99,000 and couples will not receive one if their income exceeds $198,000.
You can read my full statement on the CARES Act here . For up to date resources and information, please visit my COVID-19 resource page at calvert.house.gov/COVID-19 , and to receive COVID-19 updates to your inbox, please sign up for my eNewsletters here .
Member of Congress